Black Friday put chain in the red

Value fashion chain Bonmarche has blamed Brexit for having to issue a profit warning after an “extremely poor” Black Friday.

It said “sales have not recovered” since the November shopping event and warned the business could slip to a full-year loss of up to £4million.

In a statement the company said: “We believe uncertainty surrounding Brexit is a significant factor affecting demand and, therefore, that it may not strengthen until the current period of heightened uncertainty ends.”

The group’s boss Helen Connolly said conditions on the high street are worse than those seen during the recession sparked by the financial crisis.

But she added: “I believe that Bonmarche is well prepared to weather the storm, and that we can look forward to some recovery in full-year 2020.”